The Problem

For many people their home is the biggest investment and their biggest asset. We pay a mortgage payment every month for 20 - 30 years to pay off the loan(s) that we need to buy our homes. The "American Dream" is to then live in that home for free during our retirement. Unfortunately, for many people even with their home paid off, they just don't have enough other investments to live comfortably without continuing to work.

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The Catch 22

To get access to the equity you have built up in your house, you typically would have to sell it and move out. In 1961 Nelson Haynes of Deering Savings & Loan wrote the first "Reverse Mortgage" to try and solve this problem. It seemed like a good approach -- the bank pays OUT mortgage payments instead of taking them in until you decide to move out or until you die. Unfortunately, reverse mortgages also have some very serious downsides.

PROBLEMS WITH TYPICAL REVERSE MORTGAGES:

  • You ONLY get payments while you live in the house
  • Banks dicate the terms of the reverse-mortgage
  • Banks typically charge large upfront fees
  • When you move out, you have to pay the bank back
  • OR
  • When you die, your heirs have to pay the bank back
  • Reverse mortages complicate probate for your heirs
  • Market flucuations may create a shortfall
  • Banks have even been known to foreclose reverse mortgages if taxes or insurance payments are missed or forgotten
Simply put, REVERSE MORTGAGES CAN BE DANGEROUS.

We set out to come up with a product that protects you and your family, treats you fairly, and that honors the time and money you have invested into your home, recognizing the sacrifice you made to pay it off, and addresses the concerns we all face during retirement.

The Solution:

Reverse-Rent-For-Life is an agreement between you and a buyer / investor to buy your house while you still live. For Example:

  1. Bob agrees to buy your house by paying you a monthly payment.
    • We recommend 4% of the equity in your home to be paid annually in monthly installments until the end of your life regardless of where you choose to live.
  2. Bob does not get "Possession" of your house until you move out.
  3. We provide over-sight throughout your retirement enforcing the terms of the deal.

Best of all you become a renter in your own home, for as long as you want, and we take over the mundane details like handling tax payments, insurance bills, and even hire a property manager complete with a maintenance department! Become a renter again and let us handle the maintenance tasks that you can't do (or just don't want to do) anymore.

Reverse-Rent-For-Life: You're Earned It!

Ready to start the conversation?
Complete the Client Questionnaire for a free no-obligation estimate of your Reverse-Rent-For-Life monthly payment AND optional Equity Payments.